Popular Barbadian singer, Robyn Rihanna Fenty, fondly called Rihanna, has been described as a billionaire by American business magazine, Forbes.
Forbes revealed that Rihanna achieved the accomplishment due to a cosmetic company, Fenty Beauty, which she launched in 2017.
With a whopping worth of $1.7 billion the singer and businesswoman is now the wealthiest female musician in the world. Rihanna comes second to Oprah Winfrey who is the richest female entertainer in the world.
Rihanna owns 50 per cent of Fenty Beauty which produced an estimated $1.4 billion of her wealth, with the rest coming mostly from her music.
Also the other 50 per cent of the cosmetic company is controlled by a French luxury goods conglomerate LVMH.
The singer’s lingerie line, Savage x Fenty, which was launched in 2018 raised $115 million in funding.
However, it is not everything Rihanna does that turns to gold.
Forbes revealed that LVMH and Rihanna confirmed that they “shut down their other venture, a high-end fashion and accessories house also called Fenty.
Fenty was launched in 2019, the brand is aimed to extend Rihanna’s brand of inclusivity and offer styles in a range of sizes.
But like many luxury fashion brands, the expensive line suffered during the pandemic, releasing its last collection in November 2020.”